When was the last time you reviewed the policy limits on your legal malpractice insurance?
For many attorneys and law firms in Pennsylvania and Ohio, the answer is: “It’s been a while.”
And for some, it’s even worse — they’ve never increased their limits since first purchasing their policy.
We get it. When you first bought coverage, it felt like checking a box.
You picked a limit — maybe the standard $100,000 per claim / $300,000 aggregate — and haven’t thought much about it since. Unless a client insisted on a higher limit, there may have been no urgency to adjust anything.
But that mindset can put your entire practice at risk.
Why It’s Time to Rethink Your Firm’s Insurance Limits
As I like to say:
“Trying to raise your limits after a claim is like trying to buy homeowner’s insurance when your house is already on fire.”
Let that sink in.
Here are a few things that have likely changed since you last looked at your policy:
- The cost of living has risen significantly — including in Pittsburgh, Harrisburg, Cleveland, and Columbus.
- Real estate prices, car prices, and even eggs have all gone up.
- Your cost of doing business — from staff wages to office rent — has increased.
- And your legal fees have likely risen, too.
So, if every financial metric around you has grown, why haven’t your malpractice limits?
Low Limits For Your Legal Malpractice Insurance Can Cost You Big Time
The most commonly offered “starter” policy is $100,000 / $300,000. And while that might sound like a lot, it doesn’t go far when:
- Defense attorneys start billing (what would you be charging?)
- Expert witnesses are brought in
- A claim needs to be settled before trial
Even a small-to-midsize claim can eat through six figures fast — leaving you on the hook for the rest.
At that point, you’re not just protecting your firm — you’re protecting your personal assets, too.
How to Determine the Right Coverage For Your Law Firm
If you’re unsure what limits make sense, here are a few questions to ask:
- How many active clients does your firm currently serve?
- What is the average value of the cases you handle?
- How many attorneys are in your firm?
- What is the current cost of living index in your area?
These factors should all influence your decision.
A solo attorney in Erie, PA handling traffic tickets may have different needs than a five-attorney firm in Cincinnati managing complex civil litigation — but both should at least evaluate whether their limits are keeping pace.
Don’t Say “No” Without Knowing the Cost
One of the most common objections we hear is:
“I’d love to increase my coverage — but it probably costs too much.”
But many firms say that before even getting a quote.
In reality, increasing your limits might not cost as much as you think.
And the peace of mind it offers — especially if you’re planning for retirement or growing your practice — is well worth the investment.
Legal Malpractice Insurance in Pennsylvania and Ohio: Get a Review
If you’re a law firm based in PA or OH, now is a great time to schedule a malpractice policy review with us. Whether you’re in Philadelphia or Dayton, Erie or Akron — your firm deserves coverage that reflects today’s legal environment.
You wouldn’t go five years without adjusting your rates or reviewing client contracts — don’t let your insurance stay stuck in the past.
Final Thought
Before you say no to increasing your limits, ask:
- When was the last time I adjusted my coverage?
- What would a real claim cost me today?
- Am I protecting my future — or playing defense?
Want to dive deeper?
Grab a free copy of my book, Game Over? Not Today!, which covers risk exposure, cyber liability, and real-world scenarios that law firms face every day: https://bit.ly/INF-Game-Over-Not-Today